Pending changes to Greece’s inheritance law, the first after 80 years, include heightened protection of heirs from assuming excessive debts and the unprecedented introduction of inheritance contracts, while separately, new provisions are envisioned for cohabiting couples without marriage or civil partnership pacts.

In presenting the draft legislation during an appearance with the public broadcaster ERT, Justice Minister Giorgos Floridis said the proposed changes will “adapt the civil code to contemporary social and economic conditions.”

Floridis, whose has served as a minister in both PASOK and New Democracy (ND) governments, emphasized that under the new framework, inheritance debts are limited to the value of the inherited estate, adding that the heir or heirs will not inherit burdens, liens or obligations that affect their own property and assets.

As he explained, any debts exceeding the value of the inheritance are written off, “finally resolving the enormous problems created for thousands of families by erroneous assessments or delayed renunciations.”

Inheritance contracts debut in Greek law

He also clarified that the testator – the individual drawing up a will or leaving a legacy – can now agree with any heir or heirs during his or her lifetime on how to distribute the estate, by means of a notarial deed that “cannot be revoked.” The process, he emphasized, “prevents post-mortem conflicts, saves businesses and leads to smooth succession.”

At the same time, the possibility of providing financial support to a child during the testator’s lifetime in exchange for a waiver of future inheritance rights is being stipulated in law.